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Top Rated
105 Ratings
3 Ratings
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Score 8.3 out of 101

Wave Accounting

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Top Rated
105 Ratings
<a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'>trScore algorithm: Learn more.</a>
Score 9.2 out of 101

Likelihood to Recommend

Thomson Reuters CS Professional Suite

This product is best suited for public accounting firms. I would recommend this to small-medium sized accounting firms as I believe they can best utilize the multiple services provided by CS Professional Suite. The ability to access server files and review changelogs/audit logs/ and other pertinent information allow for a strong level of collaboration between employees.
Albert Hwang profile photo

Wave Accounting

Wave is great for a small consulting shop like mine. I'm sure that there are more sophisticated systems out there but I have a limited number of expenses and invoices each year - for me, Wave meets my needs. They've made significant improvements to their dashboard over the past three years and have not changed the cost (FREE for my instance).
Kristy Nittskoff profile photo

Feature Rating Comparison

Payroll Management

Thomson Reuters CS Professional Suite
10.0
Wave Accounting
7.9
Pay calculation
Thomson Reuters CS Professional Suite
10.0
Wave Accounting
8.2
Benefit plan administration
Thomson Reuters CS Professional Suite
Wave Accounting
7.5
Direct deposit files
Thomson Reuters CS Professional Suite
Wave Accounting
8.0
Salary revision and increment management
Thomson Reuters CS Professional Suite
Wave Accounting
7.7
Reimbursement management
Thomson Reuters CS Professional Suite
Wave Accounting
8.0

Security

Thomson Reuters CS Professional Suite
10.0
Wave Accounting
8.4
Single sign-on capability
Thomson Reuters CS Professional Suite
10.0
Wave Accounting
9.1
Role-based user permissions
Thomson Reuters CS Professional Suite
10.0
Wave Accounting
7.7

Reporting & Analytics

Thomson Reuters CS Professional Suite
10.0
Wave Accounting
8.5
Dashboards
Thomson Reuters CS Professional Suite
10.0
Wave Accounting
8.5
Standard reports
Thomson Reuters CS Professional Suite
10.0
Wave Accounting
8.3
Custom reports
Thomson Reuters CS Professional Suite
10.0
Wave Accounting
8.5

General Ledger and Configurable Accounting

Thomson Reuters CS Professional Suite
9.2
Wave Accounting
8.3
Bank reconciliation
Thomson Reuters CS Professional Suite
10.0
Wave Accounting
8.0
Fixed asset management
Thomson Reuters CS Professional Suite
10.0
Wave Accounting
7.2
Regulations compliance
Thomson Reuters CS Professional Suite
8.0
Wave Accounting
7.3
Electronic tax filing
Thomson Reuters CS Professional Suite
8.0
Wave Accounting
6.0
Journals and Reconciliations
Thomson Reuters CS Professional Suite
9.0
Wave Accounting
8.2
Standardized Processes
Thomson Reuters CS Professional Suite
10.0
Wave Accounting
8.2
Accounts payable
Thomson Reuters CS Professional Suite
Wave Accounting
8.7
Accounts receivable
Thomson Reuters CS Professional Suite
Wave Accounting
9.2
Cash management
Thomson Reuters CS Professional Suite
Wave Accounting
8.1
Expense management
Thomson Reuters CS Professional Suite
Wave Accounting
8.6
Time tracking
Thomson Reuters CS Professional Suite
Wave Accounting
7.7
Multi-currency support
Thomson Reuters CS Professional Suite
Wave Accounting
8.2
Multi-division support
Thomson Reuters CS Professional Suite
Wave Accounting
7.3
Self-service portal
Thomson Reuters CS Professional Suite
Wave Accounting
8.9
Global Financial Support
Thomson Reuters CS Professional Suite
Wave Accounting
9.0
Primary and Secondary Ledgers
Thomson Reuters CS Professional Suite
Wave Accounting
9.2
Intercompany Accounting
Thomson Reuters CS Professional Suite
Wave Accounting
8.6
Localizations
Thomson Reuters CS Professional Suite
Wave Accounting
9.5
Enterprise Accounting
Thomson Reuters CS Professional Suite
Wave Accounting
8.7
Configurable Accounting
Thomson Reuters CS Professional Suite
Wave Accounting
8.8
Centralized Rules Framework
Thomson Reuters CS Professional Suite
Wave Accounting
9.0

Inventory Management

Thomson Reuters CS Professional Suite
10.0
Wave Accounting
8.9
Location management
Thomson Reuters CS Professional Suite
10.0
Wave Accounting
9.0
Inventory tracking
Thomson Reuters CS Professional Suite
Wave Accounting
9.5
Automatic reordering
Thomson Reuters CS Professional Suite
Wave Accounting
8.1
Manufacturing module
Thomson Reuters CS Professional Suite
Wave Accounting
9.0

Accounting Firm BPO Features

Thomson Reuters CS Professional Suite
10.0
Wave Accounting
8.0
Client template cloning
Thomson Reuters CS Professional Suite
10.0
Wave Accounting
8.0
Single sign-on
Thomson Reuters CS Professional Suite
10.0
Wave Accounting
9.0
Branded client dashboards
Thomson Reuters CS Professional Suite
Wave Accounting
8.0
Client data roll-up capabilities
Thomson Reuters CS Professional Suite
Wave Accounting
8.0
Client data consolidation for benchmarking
Thomson Reuters CS Professional Suite
Wave Accounting
7.5
Configurable alerts
Thomson Reuters CS Professional Suite
Wave Accounting
8.0
Billing bypass
Thomson Reuters CS Professional Suite
Wave Accounting
8.0
Configurable client onboarding questions
Thomson Reuters CS Professional Suite
Wave Accounting
8.0
Cross-client workflow management
Thomson Reuters CS Professional Suite
Wave Accounting
8.0
Industry-specific versioning
Thomson Reuters CS Professional Suite
Wave Accounting
8.0
Legacy system data migration
Thomson Reuters CS Professional Suite
Wave Accounting
8.0

Customization

Thomson Reuters CS Professional Suite
Wave Accounting
8.6
API for custom integration
Thomson Reuters CS Professional Suite
Wave Accounting
8.6
Plug-ins
Thomson Reuters CS Professional Suite
Wave Accounting
8.7

Order Management

Thomson Reuters CS Professional Suite
Wave Accounting
8.1
Pricing
Thomson Reuters CS Professional Suite
Wave Accounting
8.4
Order entry
Thomson Reuters CS Professional Suite
Wave Accounting
8.4
Credit card processing
Thomson Reuters CS Professional Suite
Wave Accounting
9.1
Cost of goods sold
Thomson Reuters CS Professional Suite
Wave Accounting
8.8
Order Orchestration
Thomson Reuters CS Professional Suite
Wave Accounting
8.0
End-to-end order visibility
Thomson Reuters CS Professional Suite
Wave Accounting
5.9
Order exception Resolution
Thomson Reuters CS Professional Suite
Wave Accounting
8.0

Pros

Thomson Reuters CS Professional Suite

  • Import information between its products and Excel.
  • Straightforward keypunching processed designed for accounting.
  • Strong customization of reporting.
Albert Hwang profile photo

Wave Accounting

  • Crisp, clean invoices, and I particularly like the ability to customize the invoice to fit our needs.
  • Custom reporting tools so we can slice & dice our data as needed.
  • Overall interface is incredibly easy to navigate through and you don't have to be a professional accountant or book keeper to make sense of everything.
  • Offering a recurring payment option, credit card processing, and ACH payment options with customer online payment options as well has made our life much easier with the repeat accounts we manage.
  • Adding customers profiles is simple and can be done right in the new invoice tool
  • Setting up vendors is quick and easy to associate to various payable/receivable accounts is simple.
Matthew Gehrman profile photo

Cons

Thomson Reuters CS Professional Suite

  • Requires a time investment for the learning curve to fully utilize the benefits provided by CS Professional Suite.
  • Older looking UI and aesthetic.
Albert Hwang profile photo

Wave Accounting

  • Wave is owned by ADP and integrates well, but I'm less of a fan of ADP these days, so I'll need to work out how it'll work out with alternate payroll providers.
  • The app for Wave has some great functions, but the website has much more complete integration, where you can 'skip' sending an invoice if you're just using it to track invoices for retainer-based clients.
  • The receipt tracking app is separate from the accounting app, and could possibly be integrated better.
Carl Grivakis profile photo

Likelihood to Renew

Thomson Reuters CS Professional Suite

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 7.8
Based on 3 answers
Easy to use for clients with no accounting background and the price is right.
Jeanne Harris profile photo

Usability

Thomson Reuters CS Professional Suite

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 5.3
Based on 4 answers
I am a professional bookkeeper and I have no problems using Wave and all of it's features. I can see that certain individuals who have no accounting knowledge might struggle with a few different features and entries, but that is why Wave has an emphasis in connecting users to Wave Pro's who will walk them through things
Melissa Whaley profile photo

Reliability and Availability

Thomson Reuters CS Professional Suite

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 6.7
Based on 4 answers
WAVE is always available when we need it ! Peter
Peter Cullen profile photo

Performance

Thomson Reuters CS Professional Suite

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 2.9
Based on 2 answers
Wave does tend to slow down when filtering your transactions screen especially by date. This is more of an issue when trying to trouble shoot certain transactions or clean-up a set of books.
Melissa Whaley profile photo

Support

Thomson Reuters CS Professional Suite

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 9.0
Based on 1 answer
If they had live chat service then I'd rate this a 10.
Matthew Gehrman profile photo

Online Training

Thomson Reuters CS Professional Suite

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 4.7
Based on 3 answers
easy to use and east to train on ! Our WAVE clients enjoy the ease of use
Peter Cullen profile photo

Alternatives Considered

Thomson Reuters CS Professional Suite

Not included in the selection process of Thomson Reuters CS Professional Suite, however, in my team at the company using the product, it has developed in large leaps. From implementing the required changes resulting from changes in tax law to industry-specific hurdles such as additional support during tax season, this product has been trust-worthy and reliable throughout my use.
Albert Hwang profile photo

Wave Accounting

I was never able to figure out Gnu cash so I had to mostly use excel, until I found Wave
Torrey Holman profile photo

Scalability

Thomson Reuters CS Professional Suite

No score
No answers yet
No answers on this topic

Wave Accounting

Wave Accounting 3.0
Based on 2 answers
Once they out grow what is ability to move up to a more robust system?
Penny Breslin profile photo

Return on Investment

Thomson Reuters CS Professional Suite

  • Not authorized to view the large scale picture of Thomson Reuters CS Suite on ROI, however, it has been a part of the business model for years with constant updates and is only getting more and more efficient as time goes on.
Albert Hwang profile photo

Wave Accounting

  • Wave has allowed me have a clear picture of my revenue and allowed me to make better business expense decisions.
  • Wave has saved me a lot of money because it is a free service. It saves me a lot of time because it automatically imports my bank transactions.
Melissa Whaley profile photo

Pricing Details

Thomson Reuters CS Professional Suite

General

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Additional Pricing Details

Wave Accounting

General

Free Trial
Free/Freemium Version
Premium Consulting/Integration Services
Entry-level set up fee?
No
Additional Pricing Details

Add comparison